West Pharmaceutical Services, Inc. (WST)

NYSE: WST · USD

$404

+5.54 (+1.4%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-08

Our latest published analysis: WST rated Sell

West Pharmaceutical Services, Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$192 / share

Potential value

$248 / share

Upside to FV

-46.7%

from $404

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$25.3B
Revenue (ttm)	3.3B
Net income (ttm)	564.9M
EPS (ttm)	$7.81
Shares out	70.4M
P/E (trailing)	51.7x
P/E (forward)	37.5x
Dividend	$1.04 (0.26%)
Volume	657,424
Beta	1.12

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 3.3B
Net income (ttm): 564.9M
EPS (ttm): $7.81
P/E (trailing): 51.7x
P/E (forward): 37.5x
Market cap: $25.3B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$2.83B	$2.89B	$2.95B	$2.89B	$3.07B	+2.1%
Gross profit	$1.18B	$1.14B	$1.13B	$998.5M	$1.10B	-1.6%
Operating income	$752.3M	$734.0M	$676.0M	$569.9M	$584.9M	-6.1%
Net income	$661.8M	$585.9M	$593.4M	$492.7M	$493.7M	-7.1%
EPS (diluted)	$8.67	$7.73	$7.88	$6.69	$6.79	-5.9%
EBITDA	$879.7M	$808.1M	$844.1M	$743.8M	$770.6M	-3.3%
R&D	$52.8M	$58.5M	$68.4M	$69.1M	$74.3M	+8.9%
SG&A	$362.8M	$316.9M	$353.4M	$338.5M	$393.6M	+2.1%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	売り
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	縮小
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	縮小

Base and Bull scenarios

Base65%

Price target

$191.60

-46.7% from spot

The base case projects intrinsic Fair value at $191.60 (representing an implied return of -46.7% from $359.51 (as of 2026-10-08)). Under a 65.0% probability weighting, the target is $191.60, delivering an expected return of -46.7%. This reflects steady biologics mix shift, commercial ramp-up at Grand Rapids and Dublin, and gradual margin normalization toward terminal expectations.

Secular biologics and injectable drug volume expansion driving steady proprietary mix shift
Capital expenditure moderating toward maintenance levels as cleanroom expansions reach full utilization
Operating margin expanding steadily toward normalized targets through fixed-cost absorption and device margin accretion

Bull15%

Price target

$247.73

-31.1% from spot

The bull case models an upside target of $247.73 with an estimated probability of 15.0%, representing a return of -31.1% relative to $359.51 (as of 2026-10-08). In this scenario, accelerated global adoption of GLP-1 therapies and complex biologics drives high-teens proprietary volume growth, while rapid operational execution at Dublin and Grand Rapids maximizes fixed-overhead absorption and lifts operating margins toward Potential value of $247.73.

Accelerated worldwide GLP-1 adoption and complex biologic volume growth driving sustained high-teens proprietary expansion
Rapid cleanroom commercialization at Grand Rapids and Dublin achieving optimal throughput ahead of schedule
Sustained pricing realization on proprietary elastomer components exceeding commodity cost inflation

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($191.60). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	2.8%	3.0%	3.3%	3.5%
8.6%	$206	$210	$214	$219	$225
9.1%	$195	$198	$202	$206	$211
9.6%	$186	$189	$192	$195	$199
10.1%	$177	$180	$182	$185	$188
10.6%	$170	$172	$174	$177	$179

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E37.5

P25 n/aP50 n/aP75 n/a

Trailing P/E46.9

P25 n/aP50 n/aP75 n/a

ROE19.1

P25 n/aP50 n/aP75 n/a

ROIC20.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All WST indicators

Market & fundamental data

Available fields

292

Groups with data

Currency

USD

Showing 292 of 292 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000105770
Company name	West Pharmaceutical Services, Inc.
Country	United States
Country code	US
CUSIP number	955306105
Earnings date	2026-10-29
Earnings time	bmo
Employees	10,800
Employees change	200
Employees growth	1.89%
Enterprise value	$28.3B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1923
In index	SP500
Industry	Medical Instruments & Supplies
Is primary listing	Yes
Is SPAC	No
ISIN number	US9553061055
Last 10-K release date	2026-02-17
Last earnings date	2026-07-23
Last refreshed	2026-10-28
Last stock split date	2013-09-27
Last stock split type	Forward
Market cap	$28.4B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$403.81
Price currency	USD
Sector	Healthcare
SIC code	3841
Stock price date	2026-10-28
Symbol	WST
U.S. state	Pennsylvania
Website	https://www.westpharma.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	47.51x
Average P/E ratio (10Y)	44.38x
Average P/E ratio (3Y)	42.11x
Average P/E ratio (5Y)	42.32x
Earnings yield	1.93%
EV/Earnings	49.81x
EV/EBIT	38.51x
EV/EBITDA	30.85x
EV/FCF	64.41x
EV/Sales	8.46x
FCF / EV yield	1.55%
FCF yield	1.55%
Forward EV/Sales	8.26x
Forward P/E	43.61x
Forward P/S	8.29x
Graham number	86.38984
Graham upside	-78.49%
Industry forward P/E	22.69x
Industry P/E	75.18x
Lynch fair value	$39.05
Lynch upside	-90.28%
P/(FCF - SBC) ratio	69.9x
P/(OCF - SBC) ratio	44.88x
P/B ratio	9.38x
P/E ratio	51.71x
P/FCF ratio	64.68x
P/OCF ratio	42.68x
P/S ratio	8.49x
PEG ratio	2.76x
Price / tangible book value	9.83x
Price/EBITDA ratio	30.98x
Sector forward P/E	23.56x
Sector P/E	50.13x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	21.97%
EBITDA margin	27.42%
Effective tax rate	20.34%
FCF margin	13.13%
Gross margin	36.79%
Operating margin	21.97%
Pretax margin	21.31%
Profit margin	16.98%
Profit per employee	$52,306
Profitable quarters	34
Profitable years	24
Revenue per employee	$308,037
ROA	11.38%
ROA (5Y)	12.28%
ROCE	21.27%
ROE	19.09%
ROE (5Y)	22.16%
ROIC	20.57%
ROIC (5Y)	27.23%
SBC / revenue	0.98%
Tax / revenue	4.33%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	16.82%
EPS growth (Q)	18.13%
EPS growth (QoQ)	11.98%
EPS growth 10Y	18.99%
EPS growth 3Y	4.38%
EPS growth 5Y	2.67%
EPS growth quarters	5
EPS growth years	1
FCF growth	27.01%
FCF growth (Q)	-20.71%
FCF growth (QoQ)	71.19%
FCF growth 3Y	3.26%
FCF growth 5Y	9.03%
Gross profit growth	17.21%
Gross profit growth (Q)	20.19%
Gross profit growth 3Y	3.82%
Gross profit growth 5Y	4.27%
Net income growth	15.83%
Net income growth (Q)	16.84%
Net income growth (QoQ)	10.95%
Net income growth 3Y	2.88%
Net income growth 5Y	1.7%
Net income growth quarters	5
Net income growth years	1
OCF growth	-2.14%
OCF growth (Q)	-29.98%
OCF growth (QoQ)	37.93%
OCF growth 10Y	11.85%
OCF growth 3Y	-2.16%
OCF growth 5Y	5.76%
Operating income growth	16.52%
Operating income growth (Q)	22.5%
Operating income growth 3Y	1.3%
Operating income growth 5Y	3.01%
Revenue growth	12.38%
Revenue growth (Q)	13.8%
Revenue growth (QoQ)	3.24%
Revenue growth 10Y	8.63%
Revenue growth 3Y	5.1%
Revenue growth 5Y	5.69%
Revenue growth quarters	7
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-225.3M
Depreciation and amortization	$181.4M
EBIT	$730.8M
EBITDA	$912.2M
EPS	$7.81
FCF per share	$6.21
Financing cash flow	$-496.7M
Free cash flow	$436.9M
Free cash flow minus SBC	$404.3M
Gross profit	$1.2B
Income taxes	$144.2M
Investing cash flow	$-225.3M
Net borrowing	$-1.3M
Net cash flow	$-73.9M
Net income	$564.9M
Operating cash flow minus SBC	$629.6M
Operating income	$730.8M
Revenue	$3.3B
Stock-based compensation	$32.6M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	13.94
Book value per share	$42.47
Debt / EBITDA	0.33
Debt / equity	0.11
Debt / FCF	0.72
Goodwill	$108.7M
Interest coverage	162.4
Long-term assets	$2.3B
Long-term liabilities	$445.7M
Net cash (debt)	$119.3M
Net cash / market cap	0.42%
Net cash growth	-40.79%
Net debt / EBITDA	-0.13
Net debt / equity	-0.04
Net debt / FCF	-0.27
Piotroski F-Score	7
Property, plant and equipment	$1.8B
Shareholders' equity	$3B
Tangible book value	$2.9B
Tangible book value per share	$40.84
Total assets	$4.1B
Total cash	$435.8M
Total debt	$316.5M
Total liabilities	$1.1B
WACC	10.33%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.83
Current assets	$1.8B
Current liabilities	$640.5M
Current ratio	2.82
Inventory turnover	4.84
Net working capital	$753.5M
Quick ratio	1.82
Working capital	$1.2B
Working capital turnover	2.97

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.16%
Dividend growth	8.24%
Dividend growth (10Y)	6.5%
Dividend growth (3Y)	6.11%
Dividend growth (5Y)	5.92%
Dividend growth years	33
Dividend payment date	2026-11-18
Dividend payment years	54
Dividend payout frequency	Quarterly
Dividend per share	$1.04
Dividend yield	0.26%
Ex-dividend date	2026-11-10
FCF payout ratio	14.82%
Last dividend	$0.26
Payout ratio	11.78%
Shareholder yield	1.42%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	455.57%
10Y return CAGR	19.12%
10Y total return	475.16%
150-day SMA	$334.27
15Y price change	1,855.96%
15Y return CAGR	22.63%
15Y total return	2,032.75%
1D price change	1.39%
1M price change	8.61%
1M total return	8.61%
1W price change	3.49%
1W total return	3.49%
1Y price change	40.08%
1Y return CAGR	40.55%
1Y total return	40.52%
20-day SMA	$380.20
200-day SMA	$311.96
20Y price change	1,797.83%
20Y return CAGR	16.8%
20Y total return	2,131.67%
3M price change	21.46%
3M total return	21.54%
3Y price change	25.37%
3Y return CAGR	8.13%
3Y total return	26.45%
50-day SMA	$365.12
50-day SMA vs 200-day SMA	50over200
52-week high	$404.99
52-week high date	2026-10-28
52-week low	$223.83
52-week low date	2026-01-30
5Y price change	-4.51%
5Y return CAGR	-0.66%
5Y total return	-3.25%
6M price change	33.14%
6M total return	33.32%
All-time high	$475.35
All-time high date	2021-09-09
All-time low	$1.16
All-time low date	1980-12-11
Average true range (ATR)	$8.10
Average volume	522.5K
Beta (1Y)	0.63
Beta (2Y)	0.75
Beta (5Y)	1.12
Change from 52-week high	-0.29%
Change from 52-week low	80.41%
Change from all-time high	-15.36%
Change from all-time low	34,704.5%
Change from open	1.21%
Day's gap	0.18%
Dollar volume	$265.5M
High price	$404.54
Low price	$397.50
Monthly RSI	66.72
Open price	$399.00
Position in 52-week range	89.63%
Premarket change	-0.2%
Premarket close	$398.29
Premarket price	$397.48
Previous close	$398.29
Price vs 150-day SMA	20.36%
Price vs 20-day SMA	5.82%
Price vs 200-day SMA	28.97%
Price vs 50-day SMA	10.19%
Relative volume	1.26
RSI	74.83
Sharpe ratio	1.12
Sharpe ratio (3Y)	0.21
Sharpe ratio (5Y)	0.11
Sortino ratio	1.93
Sortino ratio (3Y)	0.4
Sortino ratio (5Y)	0.28
Volume	657.4K
Weekly RSI	72.08
YTD price change	46.23%
YTD total return	46.57%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	69.8M
Float percentage	99.25%
Shares change (QoQ)	-1.52%
Shares change (YoY)	-1.16%
Shares held by insiders	0.63%
Shares held by institutions	101.65%
Shares outstanding	70.4M
Short % of float	3.01%
Short % of shares	2.99%
Short ratio	3.5 days

Deeper analysis on WST

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this WST report

What is the latest published WST stock rating?

West Pharmaceutical Services, Inc. is shown with Sell in the latest published report, analyzed 2026-10-08. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full WST analysis?

The full latest published report, analyzed 2026-10-08, lives at /stocks/WST/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for WST?

The latest published report analyzed 2026-10-08 gives WST a fair value of USD 192 and a potential value of USD 248. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the WST page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-08). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellWST · Fair value $192-46.7%

Read full analysis →

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	8.5
Profitability	6.5
Revenue Growth	6.0
Risk Assessment	8.0
Competitive Moat	9.0
Earnings Quality	8.0
Capital Efficiency	7.5

West Pharmaceutical Services, Inc. (WST)

Our latest published analysis: WST rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · WST

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All WST indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on WST

Frequently asked questions

レーティング履歴